Navient announces call of $175 million in student loan trusts

Published 9:00 AM ET Tue, 30 Aug 2016
Globe Newswire

WILMINGTON, Del., Aug. 30, 2016 (GLOBE NEWSWIRE) -- Navient (Nasdaq:NAVI), the nation’s leading loan management, servicing and asset recovery company, today announced that it is exercising the servicer’s call option to purchase all of the remaining federally guaranteed student loans held by SLM Student Loan Trust 2004-4 and SLM Student Loan Trust 2004-7. As a result, all outstanding bonds issued by the two trusts, which aggregate to $175 million of bonds, will be repaid on Oct. 25, 2016.

Since Jan. 1, 2015, the company has exercised its call option on 14 trusts representing $1.2 billion in bonds. In addition, Navient has extended the legal final maturity dates on $6.8 billion of bonds from Navient-sponsored FFELP securitizations.

About NavientAs the nation's leading loan management, servicing and asset recovery company, Navient (Nasdaq:NAVI) helps customers navigate the path to financial success. Servicing more than $300 billion in student loans, the company supports the educational and economic achievements of more than 12 million Americans. A growing number of public and private sector clients rely on Navient for proven solutions to meet their financial goals. Learn more at navient.com.